24 May 2016

BULIONS & ENERGY LEVELS FOR 24 MAY 2016

Bullions: Gold futures settled lower Monday for a fourth session in a
row, as the expectation that the Fed could raise interest rates as soon as next
month drove precious-metals prices to their lowest levels since late April.

Higher interest rates would presumably
lift dollar demand, dampening buyer interest in dollar-priced precious metals.
Rate hikes can also weigh on gold as the precious metal doesn’t pay interest.
That tends to push investors toward higher-yielding alternatives when rates are
on the rise.

COMMODITY

S2

S1

R1

R2

TREND

RANGE

Gold

29350

29500

29800

29950

SIDEWAYS

29300-29900

Silver

39000

39300

40000

40300

SIDEWAYS

39000-39500

Energy: Oil futures trade
sideways in morning session with buying from lower level pull the prices to
intraday high .Next week ahead, oil traders will be focusing on U.S.
stockpile data on Tuesday and Wednesday for fresh supply-and-demand signals.